Insider Economy Finance Minister: €1 b 15-year T bill reaffirms confidence in economy

Finance Minister: €1 b 15-year T bill reaffirms confidence in economy

Cyprus raised €1 billion in its first 15-year Treasury bill auction in history, with Finance Minister Harris Georgiades saying the success of the issue reaffirmed confidence in the economy.

There was an 8 to 1 bid to cover ratio, as total offers received reached €8 billion, with a yield of 2.75%.

In a short statement, Georgiades said that Cyprus’ first ever 15-year bond “was a very important development.”

It had an extremely great bid to cover ratio, eight times over, with a very good rate, he added.

There could be “no stronger confirmation of confidence”, he noted, adding that, there could be “no more concrete act which guarantees stability and positive prospect and our economy.”

“Growth conditions will benefit all our citizens and it is with such steps that an environment of stability, trust and positive prospect is created and established,” the Finance Minister said.

Georgiades had announced earlier on Twitter that “The issue of the first 15-year bond of the Republic of Cyprus has been completed on the international markets: €1 billion, interest rate 2.75%, with total offers of €8 billion! Strong confirmation of confidence and assurance of stability and development prospects for our country”.

In a press release the Public Debt Management Office says that the T-bills settlement data is February 26, 2019 while their maturity is February 26 2034.

Mid swap rate was 1.008%, the reoffer yield was 2.758%. The all-in yield was 2.774%.

Citi, Goldman Sachs International and HSBC acted as joint lead managers.

(Cyprus News Agency)

Top Stories

122 new cases, one death announced on Friday

The Health Ministry announced the death of one person due to COVID-19. This raises the death toll from the virus in Cyprus to 179,...

Where to get antigen rapid tests on Saturday

The Health Ministry announced the following antigen rapid test sites for Saturday, 23 January 2021: LIMASSOL Grigoris Afxentiou Square 08:30-16:30 Gafkos Clerides Park, Germasoyia 08:30-16:30 Municipal Hall Ypsonas...

Civil servants’ trade union requests psychological support for health professionals

PASYDY, the civil servants’ trade union requested psychological support for health professionals due to the consequences of COVID-19 on their health. The trade union noted...

Scientific advisory committee to convene on Monday under President Anastasiades

Cyprus President, Nicos Anastasiades, will preside on Monday morning over a meeting of the scientific advisory committee on COVID-19. According to CNA information, during the...

Polish medics depart for Slovakia to help mass testing

A group of 200 Polish medics departed for neighbouring Slovakia on Friday (January 22) to help in a week-long testing campaign in the central...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...